RACQ membership

Things to note

^Figures based on FY24 statistics. See RACQ's FY24 For the Greater Good Report for more details.

*RACQ membership is available with Eligible Products that may include but not limited to a roadside assistance product, an insurance product (excluding Travel Insurance), a consumer loan product, a lifestyle product, and/or a banking product, as determined by the Board as part of membership terms and conditions.

Offer is subject to change/withdrawal without notice.

Insurance products (excluding Travel Insurance) are issued by RACQ Insurance Limited ABN 50 009 704 152 (RACQ). Conditions, limits and exclusions apply. This is general advice only and may not be right for you. This information does not take your personal objectives, circumstances or needs into account. Read the Product Disclosure Statement (PDS) and any applicable Supplementary PDS before making a purchase decision on this product. You can also access our Target Market Determinations on this website.

Banking and loan products issued by Members Banking Group Limited ABN 83 087 651 054 AFSL/Australian credit licence 241195 trading as RACQ Bank. Terms, conditions, fees, charges and lending policies apply. This is general advice only and may not be right for you. This information does not take your personal objectives, circumstances or needs into account. Read the disclosure documents for your selected product or service, including the Financial Services Guide and the Terms and Conditions, and consider if appropriate for you before deciding.

Except for RACQ Bank, any RACQ entity referred to on this page is not an authorised deposit-taking institution for the purposes of the Banking Act 1959 (Cth). That entity’s obligations do not represent deposits or other liabilities of RACQ Bank. RACQ Bank does not guarantee or otherwise provide assurance in respect of the obligations of that entity, unless noted otherwise.

RACQ Bank subscribes to the Customer Owned Banking Code of Practice which establishes higher standards than the law requires. The Code reflects modern consumer expectations and developments in approaches to issues such as consumer vulnerability, guarantors, and supporting customers through financial hardship. Please read our Customer Owned Banking Code of Practice page for more information.

^#Limits (including sub-limits), conditions and exclusions apply. This insurance is issued by Tokio Marine & Nichido Fire Insurance Co., Ltd (Tokio Marine & Nichido) ABN 80 000 438 291, AFSL 246548. Please read the Product Disclosure Statement (PDS) and any applicable Supplementary PDS before making a decision about this product and read the Target Market Determinations (TMDs) before determining whether this product is suitable for your circumstances.

**Member discount is off the recommended retail price. No further discounts apply. Discounts for repair and replacement available for each piece of glass repaired or replaced. Offer is available until further notice, subject to change without notice and may be withdrawn at any time.

^§RACQ Bank Loyalty Offer Terms and Conditions 

1. Members Banking Group trading as RACQ Bank (RACQ Bank) is the issuer of various financial products. RACQ Bank offers a range of offers on its loan products (RACQ Bank Loyalty Offer) which are subject to the below terms and conditions.

2. The RACQ Bank Loyalty Offer provides eligible RACQ Bank customers with a reduced interest rate on RACQ Bank advertised rates on eligible RACQ Bank loan products. These terms and conditions apply in addition to any terms and conditions that apply to the relevant RACQ Bank loan product.

Eligibility Criteria for the RACQ Bank Loyalty Offer

3. The RACQ Bank Loyalty Offer is available:

1. on any RACQ Bank Investment Home Loans or Owner Occupier Home Loans (Eligible Home Loans). For the avoidance of doubt, this does not include the RACQ Bank Green Home Loan; and
2. on any Secured or Unsecured Personal Loans (Eligible Personal Loans). For the avoidance of doubt, this does not include the RACQ Bank Green Car Loan, RACQ Bank Green Home Loan or RACQ Bank Green Personal Loan.

(Eligible Products)

4. The RACQ Bank Loyalty Offer is only available if a borrower on a loan contract for an Eligible Product is one of the following:

1. An existing Gold or Silver RACQ Member;
2. Employed by a Queensland school or higher education institution or by the Queensland Department of Education; or
3. Employed by RACQ and have a RACQ employee identification number.

The offer is not available where the New lending or Refinance is being conducted in the name of a business or a company.

(Eligible Member)

5. New lending or refinance is any new lending application with RACQ Bank with a minimum of $20,000 in additional new lending for Eligible Home Loans or any new application with RACQ Bank for Eligible Car and Personal Loans (New Lending or Refinance)

6. Assessment of whether the above eligibility criteria is met will be based on information you disclose during the loan initiation process.

7. RACQ may also ask for further information or evidence, outside what is usually asked in the loan initiation process, to confirm eligibility to the RACQ Bank Loyalty Offer.

8. Eligibility is assessed at New Lending or Refinance. If we assess that a person is no longer eligible for the RACQ Bank Loyalty Offer, we will remove the offer from the date of that assessment and the interest rate on your loan product will revert to the applicable interest rate disclosed in RACQ Bank’s Loan Rate Schedule.

Operation of the RACQ Bank Loyalty Offer

9. The RACQ Bank Loyalty Offer is only available for New Lending or Refinance applications received from 06 December 2022

10. An Eligible Member will receive the following reductions from the applicable interest rate disclosed in the RACQ Bank Loan Rate Schedule:

1. A 0.10% p.a. (10 basis point) reduction on any Eligible Home Loan Product;
2. A 0.20% p.a. (20 basis point) reduction on any Eligible Personal Loan Product.

11. For the avoidance of doubt, only one RACQ Bank Loyalty Offer will be applied to each Eligible Product held by an Eligible Member. If more than one borrower on a loan contract is an Eligible Member, the RACQ Bank Loyalty Offer will only be applied once.

12. The offer of an interest rate reduction under this offer is subject to the eligibility criteria being met and is at the absolute discretion of RACQ Bank.

13. RACQ Bank is entitled to discontinue or change the RACQ Bank Loyalty Offer at any point, in its absolute discretion. For Eligible Members who are receiving the RACQ Bank Loyalty Offer at the time that RACQ Bank decides to withdraw or change the RACQ Bank Loyalty Offer under this clause, RACQ Bank will only do so in accordance with the terms of the loan agreement it has with the Eligible Member which permit variations to the interest rate.

14. RACQ Bank collect, process, use and disclose information about RACQ members in accordance with our Privacy Policy which can be viewed here.

15. These Terms and Conditions are governed by the laws of Queensland. You irrevocably submit to the non-exclusive jurisdiction of the courts of Queensland and the courts competent to hear and determine matters in Queensland.